Zac Lloyd wins very first race in riding debut at Dalby before tumble


Having watched his father Jeff ride all his life, Zac Lloyd was well aware the riding caper is a tough business and by the close of his first day in the saddle on Friday, he had first-hand experience of his own.

Lloyd, 17, made the perfect start to his riding career when he landed the $1.30 favourite Satine a winner for his masters Toby and Trent Edmonds at Dalby in his very first ride in a race.

It was the first step in following the feats of his father, who rode successfully all around the world before rewriting the record books – after coming back from a stroke – in his final few years riding in Queensland before retiring in 2019.

“It’s just amazing. It’s been such a long time coming. I can’t thank Mr Edmonds and Trent enough for the ride they gave me today,” he told SKY Racing.

“Once she jumped and put herself there I knew she would be very hard to beat.”

As older brother Jaden, 18, went on to ride a winning double in what was his first Queensland wins after starting his career in Victoria, it seemed it was going to be a perfect day for the Lloyd family, with Jeff, Mum Nicola and sister Tayah all on course to mark the occasion.

But that changed when Zac ended up on his backside when he came off hot favourite Palicki, who jumped awkwardly, soon after the start in the last race on the card.

Fortunately, he escaped injury.

For Mum Nicola, the range of emotions she endured yesterday don’t come more extreme.

She understands the pressure on the boys given the record-breaking feats of their father and also feels an element of trepidation before every race, knowing the risks jockeys take each time they go to the barriers.

“My nerves are shot,” she said.

“I’ve aged 30 years. None of us will forget the day, that’s for sure.”

Nicola has watched Jaden ride since August last year and of course saw Jeff go to the races for decades, but the fears never go away.

“I’ve got better watching Jaden now, but trying to watch two people in a race, I was holding my breath,” she said.

“Of course I am proud (to see the boys ride three of the seven winners).

“It’s a lot of pressure for a 4kg apprentice to go to the races with your first ride (expected to win). People think it’s just a sit and steer, but it’s not that simple.”



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Malaysia’s Top Glove shares tumble after govt says factories to be shut


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KUALA LUMPUR — Shares in Malaysia’s Top Glove slumped 7.5% on Tuesday, after the government said some of its factories would be closed in stages for COVID-19 screening and quarantine, as more than 2,000 of its workers tested positive for the disease.

The Health Ministry reported a sharp rise in cases in the area where Top Glove factories and dormitories are located, with 2,453 workers testing positive for the virus, out of 5,767 screened.

The government said 28 factory buildings will be shut in phases but did not provide a timetable.

This new development has not affected the company’s orders, MIDF Research analyst Ng Bei Shan said in a note, adding she was maintaining her earnings estimates for fiscal 2021.

“The development of the temporary closure of its facilities in stages is still fluid. As such, the actual impact to Top Glove’s full-year earnings may be hard to ascertain at this point,” she said.

In a stock exchange filing on Monday, Top Glove said it had temporarily stopped production at 16 facilities since last Wednesday, with the balance of 12 facilities operating at much reduced capacities.

The world’s largest maker of latex gloves has racked up record profits this year on sky-rocketing demand for its products and protective gear, thanks to the pandemic.

Last week, the government ordered 14-day curbs through Nov. 30 in parts of a district about 40 kms (24.8 miles) west of the capital Kuala Lumpur, where Top Glove factories and dormitories are located. (Reporting by Liz Lee; Editing by Tom Hogue and Neil Fullick)



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Manchester United see earnings tumble as ticket sales hit by COVID-19 crisis | Business News


Manchester United have seen their earnings slump by nearly a fifth in the first financial quarter as they continued to lose out on ticket sales from fans unable to attend matches due to the coronavirus crisis.

The top flight club said playing matches behind closed doors and cancellation of the pre-season tour as a result of the COVID-19 crisis had hit income, although this was partly offset by higher broadcasting revenue.

The results, which were mistakenly released a day in advance due to an error by the publishers of its filings, showed matchday revenue dived by 92% to £1.7m in the three months to September, compared to the same period last year.

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Executives have backed manager Ole Gunnar Solskjaer

However, broadcasting revenue leapt by 45% to £47.6m.

It meant overall earnings for the period were down 19.5% to £109m, leading to a loss of £30m.

The coronavirus pandemic has played havoc with the sporting calendar, forcing the suspension of English Premier League fixtures for three months, with fans still unable to attend matches.

Manchester United have urged the government to allow fans back into stadiums, adding they can safely host 23,500 fans at Old Trafford while maintaining social distancing.

It remains uncertain whether fans would be welcomed back in the near future after England imposed a one-month lockdown this month.

Manchester United’s executive vice-chairman Ed Woodward said: “While the COVID-19 pandemic continues to cause significant disruption, we are optimistic that the recovery and normalisation phase is gradually coming into view.

“The club’s resilience and our strong commercial business continue to provide a solid foundation and gives us confidence in our long-term outlook beyond the pandemic, both on and off the pitch.”

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He added: “We recognise that not all football clubs are in as robust of a financial position and that the Premier League has a responsibility to support the wider English football pyramid.

“We will continue to push for this support, both through emergency assistance during the pandemic, and through longer-term reforms to ensure that the success of the Premier League is reinforced for the benefit of the national game as a whole.”

The results come at a time when manager Ole Gunnar Solskjaer’s future was questioned after a shock 2-1 defeat to Istanbul Basaksehir in the Champions League last week, but those concerns were eased following a win at Everton.

Woodward added: “On the pitch, while there is still hard work ahead to achieve greater consistency, we remain absolutely committed to the positive path we are on under Ole as the team continues to develop.

“We miss playing in front of our fans and we are working hard together with our governing bodies and relevant authorities to ensure that fans can safely return as soon as possible.”



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Firefighters rescue student stuck in tumble dryer after prank


British student Rosie Cole found things had taken a turn for the worse after she climbed into a tumble dryer for a prank.

Rosie, 21, had to be rescued by firefighters when her legs got stuck and her Hull University housemates could not pull her out.

Rosie had been drinking with her housemates when she was dared to get inside the dryer.

RELATED: Cat survives 12-minute hot water washing machine cycle

The student thought there was “no chance” she’d fit, but was suddenly stuck inside the dryer after wiggling her way in.

Emergency services were called and it took three firefighters to successfully rescue her.

“I definitely won’t be trying it again,” Rosie said.

“It was definitely not one of my finest moments, I will be leaving this one out of the CV.

“I’m not going to lie, I never do my own washing anyway, I’ve never even used the dryer.

“But maybe I should start putting my clothes in it when they’re not on my body.”

Housemate Lydia Dunwell, 21, was woken up to the sound of sirens blaring.

She said she was left “shocked” and “speechless” when she found it was due to Rosie being stuck inside the dryer.

This story originally appeared on The Sun and has been republished with permission



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Dollar jumps as risk assets tumble on rising COVID-19 cases, U.S. election uncertainty


Article content continued

“If Jerome Powell and the rest of the Fed speakers don’t

really add more meat to the Fed plans for how it’s going to

reach an average 2% inflation I could see the U.S. dollar

trading even higher this week,” said Bregar.

The euro traded 0.58% lower against the dollar at $1.1768

. Sterling also fell 0.82% to $1.2809 as the

dollar gained steam.

The Australian dollar traded down 0.9% against the greenback

at US$0.7222, while the New Zealand dollar was

down 1.4% at US$0.6664.

The U.S. dollar was last up 2.2% against the Crown

after hitting its highest level against Norway’s currency since

mid-July.

========================================================

Currency bid prices at 3:26PM (1926 GMT)

Description RIC Last U.S. Close Pct Change YTD Pct High Bid Low Bid

Previous Change

Session

Euro/Dollar EUR= $1.1768 $1.1837 -0.58% +4.99% +1.1871 +1.1732

Dollar/Yen JPY= 104.7400 104.5500 +0.18% -3.78% +104.8300 +104.0100

Euro/Yen EURJPY= 123.27 123.78 -0.41% +1.08% +123.9300 +122.5300

Dollar/Swiss CHF= 0.9141 0.9116 +0.27% -5.55% +0.9170 +0.9088

Sterling/Dollar GBP= 1.2809 1.2915 -0.82% -3.39% +1.2966 +1.2776

Dollar/Canadian CAD= 1.3306 1.3204 +0.77% +2.46% +1.3320 +1.3172

Australian/Doll AUD= 0.7221 0.7289 -0.93% +2.85% +0.7324 +0.7200

ar

Euro/Swiss EURCHF= 1.0760 1.0792 -0.30% -0.85% +1.0799 +1.0740

Euro/Sterling EURGBP= 0.9187 0.9162 +0.27% +8.67% +0.9196 +0.9148

NZ NZD= 0.6664 0.6759 -1.41% -1.07% +0.6777 +0.6653

Dollar/Dollar

Dollar/Norway NOK= 9.2850 9.0931 +2.11% +5.77% +9.3334 +9.0646

Euro/Norway EURNOK= 10.9293 10.7666 +1.51% +11.09% +10.9604 +10.7600

Dollar/Sweden SEK= 8.8452 8.7470 +0.35% -5.34% +8.8880 +8.7383

Euro/Sweden EURSEK= 10.4142 10.3781 +0.35% -0.53% +10.4305 +10.3714

(Additional reporting by Gertrude Chavez-Dreyfuss in New York;

Editing by Bernadette Baum and Tom Brown)



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Rackspace shares tumble 20% on first day of trading after IPO


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Shares of business technology company Rackspace tanked on Wednesday following an initial public offering, just like they did in 2008 after a previous IPO.

Rackspace shares fell over 20% to $16.17, a similar performance to their first day of trading 12 years ago.

Similar to how the nation’s economy was reeling from the Great Recession when Rackspace originally went public, the business world is now suffering in the wake of the coronavirus pandemic

Still Rackspace CEO Kevin Jones was positive during a conversation with Fortune on Wednesday, calling his company’s public debut, which raised $700 million, “one of the largest tech IPOs of the year.” That would include the IPOs of business software company ZoomInfo (which raised nearly $1 billion) and online used-car seller Vroom (which raised about $468 million). 

“Today’s Day One,” Jones said.

In 2016, private-equity firm Apollo Global Management took Rackspace private in a deal worth $4.3 billion. That leveraged buyout saddled Rackspace with considerable debt (the company’s total debt is about $3.9 billion), Jones explained. Rackspace plans to use part of the $700 million raised in its IPO to help pay off the debt. 

When Rackspace was founded in 1998, it was focused on website hosting services, and by 2008, at the time of its first IPO, it was heavily investing in cloud computing, in which companies sell computing resources on-demand to customers. But Amazon and Microsoft ended up being too much competition for the smaller Rackspace, prompting the company to shift to selling software that helped customers manage multiple cloud computing services, a trendy IT concept known as multi-cloud.

“The company is completely different than we were before we were taken private,” Jones said. 

Therefore, Jones no longer views Amazon and Microsoft as competitors. They’re now “my partners,” he said, and an extension of Rackspace’s salesforce and research and development teams.

Still, Rackspace faces tough competition from much larger companies. IBM, Accenture, and Hewlett Packard Enterprise also pitch similar cloud management products—either consulting services, software, or a combination of the two—to help customers control their IT infrastructure. 

Jones described Rackspace as being “much more agile” than bigger rivals like IBM, which often sell hundreds of other services and therefore aren’t as specialized.

In Rackspace’s latest quarter ending March 31, overall sales were $652.7 million, a 7.5% year-over-year increase. During that period, it lost $48.2 million, or 16% less than in same quarter during the previous year. 

As for taking Rackspace public during a pandemic, Jones acknowledged that it was odd. The traditional IPO roadshow, usually held with potential investors in hotel ballrooms in cities across the country, was done virtually through video-conferencing.

“It would have taken us weeks to fly over the world,” Jones said.

Still, “there’s not as much chit chat and informal relationship building” as there used to be, Jones said before adding, “But I think over time that will get to normal.”

More must-read tech coverage from Fortune:



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Hong Kong May retail sales tumble as spending, tourism evaporate



FILE PHOTO: People wearing protective masks ride a lift at Times Square shopping centre, following the outbreak of the new coronavirus, in Hong Kong, China February 21, 2020. REUTERS/Tyrone Siu/File Photo

June 30, 2020

By Donny Kwok and Twinnie Siu

HONG KONG (Reuters) – Hong Kong’s retail sales in May slumped 32.8% from a year earlier, falling for the 16th consecutive month as the virus pandemic slammed the brakes on tourism and spending in the city.

Months of anti-government protest have also weighed on business activity in the Chinese-ruled financial hub, pushing many retailers to the brink of collapse.

Sales dropped to HK$26.8 billion ($3.46 billion), government data showed on Tuesday. They tumbled a steeper 36.1% in value terms in April and 42.1% in March.

In volume terms, retail sales in May plummeted 33.9%, compared with a revised 37.5% fall in April.

The government said the decline in May continued as inbound tourism remained at a standstill and job and income conditions were weak although the coronavirus situation had stabilised.

“The business environment for retail trade remains difficult amid austere labour market conditions and the travel restrictions in place,” a government spokesman said.

For the first five months of 2020, the value of total retail sales decreased by 34.8%, and 36.5% by volume, compared with the same period in 2019.

Hong Kong’s economy suffered its worst quarterly drop on record in the first three months of the year, while the city’s biggest retailer association has estimated that 15,000 retail stores will close by the end of the year.

Hong Kong’s tourist arrivals in May plunged by 99.9 from a year earlier to 8,139 visitors, the Hong Kong Tourism Board said, matching the same percentage drop in April.

The number of mainland visitors also fell 99.9% to 5,670. (https://bit.ly/2VwSHTZ)

Sales of jewellery, watches, clocks and valuable gifts, which rely heavily on mainland tourists, sank 69.7% in May, compared with a 76.7% plunge in April. Sales fell 67.0% for the January-May period.

(Editing by Jacqueline Wong)





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Icy blasts send shivers across Queensland, causing temperature records to tumble


Weather records for the month of May have tumbled across Queensland as a wintry blast caused temperatures to plummet.

The weather bureau said Blackall and Windorah in the state’s south-west each had their coldest May days on record, yesterday.

Blackall reached a maximum temperature of 13.5 degrees Celsius and a low of 5.3C, while Windorah reached a maximum of 14.5C and a minimum of 3.3C.

Yesterday, Longreach also recorded its coldest maximum May temperature in 61 years while Charleville had a 51-year May record smashed.

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Brisbane felt its coldest May maximum temperature in 40 years yesterday, reaching a top of 17.9C and a low of 11C overnight.

The Bureau of Meteorology (BOM) said maximum temperatures were forecast to be five to 10 degrees Celsius below the May average this weekend.

BOM forecaster Lauren Pattie said North and Central Queensland would feel it the most.

Townsville is due to reach a top of just 17C, Charters Towers 14C, Rockhampton 13C and Bundaberg 15C.

Cold air mass looms over Queensland

Ms Pattie said it would be very cold across the entire state today.

“Thanks to a little bit of rainfall falling into some dry air: and that means we just get great evaporation and great cooling across that entire district,” she said.

She said there was an “upper system at the moment that’s causing a whole lot of cloud cover across the entire state”.

“It’s also a very cold air mass that’s over the top of us,” she said.

“The cloud disappears as we go into Sunday, so we’ll see things start to ease up a little bit.

The weather bureau says significant rainfall is expected in parts of Far North Queensland.(ABC News: Chris Gillette)

“However, the overnight temperatures are still very cool in particular for the Southern Interior region and frosts around as well.

“Those frosts possibly getting as far north as the Atherton Tablelands as well by the time we go into Sunday and Monday morning.”

Ms Pattie said significant rainfall was also expected from Cooktown to St Lawrence and the adjacent inland.

“It’s not significant in terms of what we’d normally see in summer for Townsville — you’d normally get a couple of hundred millimetres up in the tropical coast — it’s not unusual,” she said.

“However, it’s unusual for this time of year: in May we don’t normally see a great deal of rainfall.

But the rain would have little impact on the drought, with the State Government saying the total area of Queensland that is drought-declared remains unchanged on 67.4 per cent.

Stephen Wheatley with his surfboard.
Gold Coast resident Stephen Wheatley says he’s not a fan of the cold.(ABC News: Jennifer Huxley)

Gold Coast resident Stephen Wheatley said he certainly felt the chill while surfing at Mermaid Beach this morning — where temperatures got down to 12C.

“It’s a bit chilly. I think mainly it’s the wind that’s the cold thing — the water is surprisingly warmer than outside.

“[The wetsuit is] probably a bit warm for what is out there but I’m not a fan of the cold.

“The surf is really good though, it was great to get out.

“The leg rope snapped and everything.”



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Hong Kong Shares Tumble As Beijing Moves To Tighten Its Grip


Wall Street and European stocks ended mixed on Friday following heavy losses in Hong Kong over China’s push for a national security law that drew rebukes from the United States and Europe.

On the first day of its rubber-stamp parliament’s congress, China unveiled proposals to strengthen “enforcement mechanisms” in Hong Kong after the city was last year rocked by seven months of massive — and sometimes violent — pro-democracy protests.

Hong Kong’s main stock index closed down more than five percent, with financials and property firms battered as investors fretted about the city’s economic future.

“Riots in the street and plummeting real estate markets might be the least of Hong Kong’s building wall of worry as this authoritarian national security plan will most certainly bring into question (the city’s) status as a global banking center,” said Stephen Innes of AxiCorp.

Beijing’s move drew sharp criticism from US Secretary of State Mike Pompeo, while the European Union called for “the preservation of Hong Kong’s high degree of autonomy.”

Later Friday, the US announced sanctions against a Chinese government institute and eight companies for human rights violations against Uighurs and other minorities in China’s western Xinjiang region.

While market watchers expect US President Donald Trump to continue to attack China as his re-election campaign heats up, investors are skeptical he will take action that threatens the trade detente with Beijing.

Adding tariffs on Chinese goods would hit US consumers and “the market is skeptical Trump will risk that before November,” said Gregori Volokhine of Meeschaert Financial Services.

US stocks finished mostly higher, with the tech-rich Nasdaq Composite Index leading major indices, gaining 0.4 percent to finish at 9,324.59, an increase of more than 3.4 percent for the week.

European bourses finished the session little changed.

But the rising US-China tensions weighed on the oil market, which was also pressured by China’s move to avoid offering a 2020 growth target in light of the coronavirus’s disruptions.

The Chinese government usually sets economic growth targets that it then exceeds.

The move underscores the damage to the global growth outlook, with China’s economy hit not only by the pandemic but by weaker conditions in key export markets such as the United States and Europe.

New York – Dow: DOWN less than 0.1 percent at 24,466.16 (close)

New York – S&P 500: UP 0.2 percent at 2,965.45 (close)

New York – Nasdaq: UP 0.4 percent at 9,324.59 (close)

London – FTSE 100: DOWN 0.4 percent at 5,993.28 (close)

Frankfurt – DAX 30: UP 0.1 percent at 11,073.87 (close)

Paris – CAC 40: UNCHANGED at 4,444.56 (close)

EURO STOXX 50: UNCHANGED at 2,905.47 (close)

Tokyo – Nikkei 225: DOWN 0.8 percent at 20,388.16 (close)

Hong Kong – Hang Seng: DOWN 5.6 percent at 22,930.14 (close)

Shanghai – Composite: DOWN 1.9 percent at 2,813.77 (close)

West Texas Intermediate: DOWN 2.0 percent at $33.25 per barrel

Brent North Sea crude: DOWN 2.6 percent at $35.13 per barrel

Euro/dollar: DOWN at $1.0904 from $1.0950 at 2100 GMT

Dollar/yen: DOWN at 107.56 yen from 107.61 yen

Pound/dollar: DOWN at $1.2167 from $1.2223





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